StockNews.com assumed coverage on shares of ClearOne (NASDAQ:CLRO – Free Report) in a research note published on Saturday morning. The brokerage issued a hold rating on the communications equipment provider’s stock.
ClearOne Stock Up 2.3 %
CLRO opened at $0.92 on Friday. The company’s 50-day moving average price is $1.30 and its two-hundred day moving average price is $1.02. ClearOne has a twelve month low of $0.64 and a twelve month high of $2.65. The stock has a market cap of $22.14 million, a price-to-earnings ratio of -46.19 and a beta of 0.91.
ClearOne (NASDAQ:CLRO – Get Free Report) last announced its quarterly earnings results on Tuesday, April 2nd. The communications equipment provider reported ($0.05) earnings per share for the quarter. The company had revenue of $4.15 million during the quarter. ClearOne had a negative net margin of 2.99% and a negative return on equity of 10.61%.
ClearOne Cuts Dividend
Institutional Trading of ClearOne
A hedge fund recently raised its stake in ClearOne stock. Albion Financial Group UT grew its holdings in shares of ClearOne, Inc. (NASDAQ:CLRO – Free Report) by 5,150.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 210,000 shares of the communications equipment provider’s stock after acquiring an additional 206,000 shares during the quarter. Albion Financial Group UT owned 0.88% of ClearOne worth $384,000 at the end of the most recent quarter. 9.58% of the stock is currently owned by institutional investors and hedge funds.
About ClearOne
ClearOne, Inc, together with its subsidiaries, designs, develops, and sells conferencing, collaboration, and network streaming solutions for voice and visual communications in the United States and internationally. The company offers a range of audio conferencing products, including professional audio conferencing and sound-reinforcement products for use in enterprise, healthcare, education and distance learning, government, legal, and finance organizations; mid-tier premium conferencing products for smaller rooms, and small and medium businesses, which interface with video and Web conferencing systems; USB-based personal and group speakerphones that could be used with PCs, laptops, tablets, smartphones, and other portable devices; and traditional tabletop conferencing phones used in conference rooms and offices.
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